At the end of each quarter, we ask that you review important payroll and tax information in isolved for accuracy.
All Q1 2024 payroll and tax information must be accurate and complete in isolved by Thursday, March 28 to account for the offices being closed on Good Friday and to ensure timely filing.
Below are the recommended items to review to help you meet all requirements successfully.
It is important to confirm that your tax setup is accurate and complete. We recommend that you go to Client Management > Client Summary to validate each of the statements included in the following sections.
- Legal name
- Name (or DBA name) matches the legal company name registered with tax agencies
- FEIN matches the legal FEIN that is registered with tax agencies
- Address matches the legal company address registered with tax agencies
Then, go to Reporting > My Reports and run the Tax List report.
On this report, review the following items:
- Federal and state tax ID numbers
- State filing frequencies and rates
Here is an example of this report:
Please remember that tax agencies do NOT send any rate or filing frequency notices to Insperity, but they do send this information to you, the employer of record. If you have received these notices or see any discrepancies in your isolved setup, please forward all information to your payroll specialist.
You must have a registered ID number with all appropriate state and federal agencies to file. Agencies do not accept “Applied For” ID numbers for filing and payments. Submitting your filings with an “Applied For” ID could cause delay and agency penalties and fees.
Review employee identification information
Go to Employee Management > Employee Summary page and review employee names and social security numbers for accuracy.
Other important tax reminders
- First-quarter tax filings will be available on the Return Archive page of the Reporting menu in isolved on May 2, 2024.
- Pay items that have not been entered in isolved yet, OR payroll adjustments that will be reflected on Q1 2024 returns, MUST be reported to your payroll specialist by Thursday, March 28. These items include:
- In-house checks
- Voided checks
- Tax adjustments
- Third-party sick/disability payments
Ensure all FFCRA-qualified sick and leave wages are entered correctly.
- An additional charge will be applied for any Q1 2024 corrections submitted after Thursday, March 28
Please contact your dedicated payroll specialist today if you have any questions or concerns regarding the information above.